Required: Determine the following 2016 amounts and ratios: (Round your "The acid-test ratio" answer to 1 decimal place.)

The following is a December 31, 2016, post-closing trial balance for the Jackson Corporation.

Account Title	Debits	Credits
Cash	51,000
Accounts receivable	45,000
Inventories	86,000
Prepaid rent	27,000
Marketable securities (short term)	21,000
Machinery	200,000
Accumulated depreciation—machinery		22,000
Patent (net of amortization)	90,000
Accounts payable		13,500
Wages payable		9,500
Taxes payable		43,000
Bonds payable (due in 10 years)		250,000
Common stock		140,000
Retained earnings		42,000

Totals	520,000	520,000

Required:

Prepare a classified balance sheet for Jackson Corporation at December 31, 2016. (Amounts to be deducted should be indicated by a minus sign.)

Cone Corporation is in the process of preparing its December 31, 2016, balance sheet. There are some questions as to the proper classification of the following items:

a.	$67,000 in cash restricted in a savings account to pay bonds payable. The bonds mature in 2020.
b.	Prepaid rent of $41,000, covering the period January 1, 2017, through December 31, 2018.
c.	Note payable of $234,000. The note is payable in annual installments of $37,000 each, with the first installment payable on March 1, 2017.
d.	Accrued interest payable of $29,000 related to the note payable.
e.	Investment in marketable securities of other corporations, $114,000. Cone intends to sell one-half of the securities in 2017.

Required:
Prepare a partial classified balance sheet to show how each of the above items should be reported.

The current asset section of Guardian Consultant’s balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2016 balance sheet reported the following: cash, $1,360,000; prepaid expenses, $420,000; noncurrent assets, $3,000,000; and shareholders’ equity, $3,100,000. The current ratio at the end of the year was 2.8 and the debt to equity ratio was 2.0.

Required:
Determine the following 2016 amounts and ratios: (Round your “The acid-test ratio” answer to 1 decimal place.)

The following is the ending balances of accounts at December 31, 2016, for the Vosburgh Electronics Corporation.

Account Title	Debits		Credits
Cash		103,000
Short-term investments		218,000
Accounts receivable		159,000
Long-term investments		53,000
Inventories		233,000
Loans to employees		58,000
Prepaid expenses (for 2017)		34,000
Land		298,000
Building		1,730,000
Machinery and equipment		655,000
Patent		170,000
Franchise		58,000
Note receivable		340,000
Interest receivable		30,000
Accumulated depreciation—building				638,000
Accumulated depreciation—equipment				228,000
Accounts payable				207,000
Dividends payable (payable on 1/16/17)				28,000
Interest payable				34,000
Taxes payable				58,000
Deferred revenue				78,000
Notes payable				336,000
Allowance for uncollectible accounts				26,000
Common stock				2,072,000
Retained earnings				434,000

Totals		4,139,000		4,139,000

Additional information:

1.	The common stock represents 1.5 million shares of no par stock authorized, 680,000 shares issued and outstanding.
2.	The loans to employees are due on June 30, 2017.
3.	The note receivable is due in installments of $68,000, payable on each September 30. Interest is payable annually.
4.	Short-term investments consist of marketable equity securities that the company plans to sell in 2017 and $68,000 in treasury bills purchased on December 15 of the current year that mature on February 15, 2017. Long-term investments consist of marketable equity securities that the company does not plan to sell in the next year.
5.	Deferred revenue represents customer payments for extended service contracts. Seventy five percent of these contracts expire in 2017, the remainder in 2018.
6.	Notes payable consists of two notes, one for $118,000 due on January 15, 2018, and another for $218,000 due on June 30, 2019.

Required:

Prepare a classified balance sheet for Vosburgh at December 31, 2016. (Amounts to be deducted should be indicated by a minus sign.)